Chestertown, MD, March 16, 2005 — Washington College's Board of Visitors and Governors has announced increases to the College's tuition and fee schedule for the 2005-2006 academic year. Under the Board's 2005-2006 plan, tuition for full-time students will increase by $2,240 to $28,230, while the basic charge for on-campus housing will rise by $200 to $3,000. Basic board fees will remain unchanged at $3,200, and the Student Service Fee will be held constant at $560. The total cost for tuition, room, full board, and fees for 2005-2006 will be $34,990.
“This is a large increase, beyond the rise in the consumer price index, but the Board approved it under my recommendation, because we believe a Washington College education is worth the cost and because tuition and fees alone still generate far less than the real cost of a college education,” said Baird Tipson, President of the College.
The difference in the true cost to support the education of each student at Washington College, Tipson noted, is derived from income earned on the College's endowment, government grants, auxiliary operations and private donations.
“Together, these resources permit us to give students every educational advantage, while maintaining and advancing the college's position as one of the nation's great small liberal arts colleges,” Tipson said.
These sources also offset the actual cost of tuition for a vast majority of Washington College students. According to the College's financial aid statistics for 2004-2005, 91 percent of students receive merit or need-based institutional aid, with an average award of $14,000 per student.
“Today's Washington College students are members of the most competitive and selective classes in this College's history,” Tipson added. “Our accomplishments in the past decade have been affirmed by such measures of success as the College's rising status in the U.S. News & World Report's national rankings. There is a cost to maintaining this excellence, but there is a lasting benefit to the intensively personal and challenging education that we provide. The real proof of our worth is in our unwavering commitment to our students—I think students and parents see this immediately, and I am committed to sustaining it as the hallmark of Washington College.”